This May 7, 2020 file photo shows the Tokyo Stock Exchange. (Mainichi)

       TOKYO (Kyodo) -- Tokyo stocks rebounded on Tuesday morning, with the Nikkei index rising 2 percent, as investors bought on dips following sharp falls over the past two trading days.

       The 225-issue Nikkei Stock Average rose 559.02 points, or 2.0 percent, from Monday to 28,496.83. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 32.86 points, or 1.69 percent, at 1,974.19.

       Every industry category gained ground, led by real estate, securities house, and metal product issues.

       The dollar remained firm in the upper-113 yen range as the unit was bought on an overnight rise in U.S. Treasury yields that fueled speculation that the interest rate gap between the United States and Japan will increase, dealers said.

       At noon, the dollar fetched 113.65-66 yen compared with 113.57-67 yen in New York and 113.45-47 yen in Tokyo at 5 p.m. Monday.

       The euro was quoted at $1.1284-1288 and 128.24-30 yen against $1.1269-1279 and 128.16-26 yen in New York and $1.1254-1256 and 127.68-72 yen in Tokyo late Monday afternoon.

       Tokyo stocks opened in positive territory and extended gains throughout the morning, a day after the Nikkei finished below the 28,000-point mark for the first time since Dec. 6.

       The benchmark index had plunged nearly 4 percent over the past two trading days, and brokers said, despite Tuesday's rebound, concerns over the impact of the Omicron coronavirus variant on the global economy remain.

       The highly-contagious variant has spread rapidly around the world, with Japan so far confirming about 80 cases.

       "The United States and Europe have in particular confirmed many cases of the Omicron variant, leading some places to impose restrictions on movement and postpone events. That has triggered fears that the global economic recovery may slow down," said Maki Sawada, a strategist at Nomura Securities Co.'s investment content department.

       On the First Section, advancing issues outnumbered decliners 1,875 to 234, while 72 ended the morning unchanged.

       Semiconductor issues were bought following an upbeat earnings report from major U.S. chip-maker Micron Technology that beat market expectations, Sawada said.

       Tokyo Electron rose 2,230 yen, or 3.7 percent, to 61,830 yen, while Advantest was up 440 yen, or 4.3 percent, to 10,640 yen.

       Pharmaceutical company Shionogi jumped 526 yen, or 6.8 percent, to 8,238 yen after it said Monday it had confirmed the efficacy of its oral COVID-19 drug currently in development against the Omicron variant.

       Property developer Mitsui Fudosan rose 49.5 yen, or 2.2 percent, to 2,261.0 yen following a report that said it is set to invest 700 billion yen ($6.2 billion) overseas within three years.

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